Lithuanian SaaS firm AMLYZE bags €1M to help fintechs with anti-financial crime solutions

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Vilnius-based AMLYZE, a RegTech firm that specialises in anti-financial crime solutions for fintechs, neo-banks, and crypto businesses, announced on Thursday that it has successfully raised €1M in a pre-seed round of investment.

The round was led by Practica Capital with participation from the Firstpick accelerator and venture capital fund. 

AMLYZE says it will use the funds to scale its SaaS business, facilitate international expansion, and introduce advanced functionalities to its core product offering. 

These enhancements will enable AMLYZE to provide a comprehensive suite of integrated compliance services. 

Gabrielius Bilkštys, CEO and co-founder of AMLYZE, says, “As our mission is to help the world overcome financial crime, we have assembled a core team comprising seasoned IT and Anti-Financial Crime professionals, as well as former regulators and supervisors with backgrounds in central banking and law enforcement.” 

“We consider ourselves industry experts who possess an insider’s perspective on the sector, enabling us to assist financial institutions in meeting escalating regulatory requirements and enhancing compliance efficiency.”

AMLYZE: Combating financial crime

Founded by Gabrielius Bilkštys and Alexandre Pinot, AMLYZE is a Software-as-a-Service (SaaS) provider whose range of advanced modules includes real-time and retrospective transaction monitoring, customer risk assessment, and AML investigation. 

With a current client base primarily located in the Baltic States and the United Kingdom, AMLYZE says it is experiencing a surge in demand for its transaction monitoring, risk assessment, and case investigation solutions.

The company comprises of accomplished team members, including:

  • Jekaterina Govina, former Head of the Bank of Lithuania Financial Market Supervision Service 
  • Mindaugas Petrauskas, former supervisor of the Financial Intelligence Unit (FIU) of Lithuania 
  • Eglė Kontautaitė, former Head of the Money Laundering Prevention Division at the Bank of Lithuania

The investors

FIRSTPICK is a €20M acceleration and venture capital fund investing in tech companies across the Baltics. This year, the fund has already invested in 15 startups. 

FIRSTPICK helps founders by offering a bulletproof combination of investment and knowledge through pre-acceleration and acceleration programmes. 

The initial ticket starts at €50-200K. The Fund also provides equity-free grants for idea-stage startups.

Marijus Andrijauskas, FIRSTPICK partner, says, “The surge in demand for AMLYZE’s anti-financial crime solutions comes as no surprise given the increasing regulatory scrutiny worldwide, which threatens the FinTech industry’s growth. 

With their expert team and comprehensive suite of compliance services, AMLYZE is well-positioned to drive innovation in the industry and streamline compliance processes for their clients.”

Practica Capital is an early-stage VC dedicated to Baltic founders. The VC supports pioneers in seed (selected pre-seed), and Series A stages and partners with them to build companies. 

Practica Capital manages four funds with more than €80m in AUM. To date, the firm made over 50 investments, including great companies like PVcase, TransferGo, Interactio, Eneba, Ovoko, Trafi, CGtrader, and others.

“Given the significant knowledge and experience accumulated across all levels of the FinTech ecosystem in Lithuania over the last decade, it comes as no surprise that a company

like this has emerged here. AMLYZE, bringing together an outstanding core team on a clear mission, has firm ground and the potential to bring category-defining products to the vast and growing market,” says Donatas Keras, Founding Partner of Practica Capital.

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Vigneshwar Ravichandran

Vigneshwar has been a News Reporter at Silicon Canals since 2018. A seasoned technology journalist with almost a decade of experience, he covers the European startup ecosystem, from AI and Web3 to clean energy and health tech. Previously, he was a content producer and consumer product reviewer for leading Indian digital media, including NDTV, GizBot, and FoneArena. He graduated with a Bachelor's degree in Electronics and Instrumentation in Chennai and a Diploma in Broadcasting Journalism in New Delhi.

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